He started sales of second-hand clothing with a little money he had mobilized and now he needs to grow the business, therefore decided to request a loan to grow his business. He needs GHS 400 to buy one bale of men's jeans to sell to his customers.
Julian is 38 years old and she sells clothing; Princilla is 33 and sells 'kenkey' (corn paste); and Carmen is 53 and she sells flour and margarine. They need a total amount of GHS 1600 to expand their businesses.
About ID GhanaID Ghana is a microfinance NGO that provides financial and social services to underserved urban communities in Accra. ID Ghana’s socially-oriented business model provides clients with a number of social services, including financial literacy training, group discussions led by peer educators on health and nutrition education, child schooling, basic medical services, and counseling and legal services for women victims of violence.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid